Desjardins Has Bullish Outlook for BNS FY2025 Earnings

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Desjardins upped their FY2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a report released on Tuesday, February 25th. Desjardins analyst D. Young now anticipates that the bank will post earnings per share of $5.04 for the year, up from their previous forecast of $5.01. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share.

Several other research analysts also recently commented on the company. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Stock Down 0.2 %

Shares of NYSE BNS opened at $49.61 on Friday. Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The business has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $52.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $61.79 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 5.98%. Bank of Nova Scotia’s payout ratio is currently 82.20%.

Institutional Trading of Bank of Nova Scotia

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Direct Indexing L.P. raised its holdings in shares of Bank of Nova Scotia by 12.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,890 shares of the bank’s stock valued at $430,000 after buying an additional 878 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Bank of Nova Scotia by 1.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock valued at $1,515,000 after buying an additional 300 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Bank of Nova Scotia by 1,702.2% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,866 shares of the bank’s stock valued at $265,000 after buying an additional 4,596 shares in the last quarter. US Bancorp DE raised its holdings in shares of Bank of Nova Scotia by 25.7% during the 3rd quarter. US Bancorp DE now owns 84,281 shares of the bank’s stock valued at $4,592,000 after buying an additional 17,232 shares in the last quarter. Finally, Keystone Financial Planning Inc. raised its holdings in shares of Bank of Nova Scotia by 4.6% during the 3rd quarter. Keystone Financial Planning Inc. now owns 133,461 shares of the bank’s stock valued at $7,272,000 after buying an additional 5,870 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.